Prepared by Qi Financial Pty Ltd

ABN 83 304 796 118

AFSL 313217

Qi Super Self Managed Superannuation

Information Guide
This Information Guide is dated January 2018.

Advice Taxation Accounting Corporate Secretarial +61 2 8247 2700

Superannuation Insurance Investments Qi Financial

Home LoansPty Ltd | Qi Super Information
www.qiwealth.com.au
Guide | Page 1
Set & secure your wealth
in Qi Super today.

Qi Financial Pty Ltd | Qi Super Information Guide | Page 2

The basics.
This guide has been prepared to help you understand the benefits, features and costs of a Self Managed Superannuation
Fund (SMSF).

WHAT IS AN SMSF?

An SMSF is a super fund where the members are trustees of their own fund.

Running your own super fund gives you:

• Greater control of your super

• More flexibility and investment choice
• An alternative to large industry or retail super funds
• Flexibility to implement tax effective strategies
• Ability to borrow to purchase property

Other Requirements:

• An SMSF can have a maximum of 4 members

• The fund can have individual trustees or directors of a company that is a corporate trustee
• No member of the fund is an employee of another member of the fund, unless they are related
• Members must be tax residents of Australia

THE STRUCTURE OF AN SMSF

Trustee Company or Individual Trustee

(ABC Pty Ltd or John and Mary Smith)

SMSF
(Smith Family Super Fund)

Member Member
(John Smith) (Mary Smith)

Accumulation Pension Accumulation Pension

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Why choose Qi Super?
Qi Super is committed to offering a wiser choice to future proofing the financial wellbeing of all our clients.

CONTROL, FLEXIBILITY AND TRANSPARENCY

Qi Super provides you with all the tools, knowledge and options necessary to take control of your retirement planning. We
can help you choose the best structure for your fund and implement a wide range of investments and strategies.

Our fixed fee structure is transparent which means that there are no hidden costs and you can see exactly how much you
are paying and the list of services you are receiving.

ONLINE ACCESS TO QI SUPER PORTAL

Your Qi Super online SMSF login allows you to view and monitor all
details of your fund, bank transactions, asset allocations, investment
returns, member balances, contributions caps, insurance and much
more. If you prefer, you can also contact us via phone or email to
request information on your fund.

INVESTMENT FLEXIBILITY

When you establish your SMSF with Qi Super, you have no restrictions on what you can invest in. You also have the choice
of developing your own investment strategy suitable to your needs.

You have the flexibility to invest in a wide range of assets which include direct shares, term deposits, managed funds,
commercial and residential property, collectables and much more.

BORROWING

We can assist you with establishing a Limited Recourse Borrowing Arrangement where your fund can borrow money to
invest in property, direct shares etc.

We can help you through each step of the process to ensure that the correct structure is established to allow your SMSF
to borrow funds to purchase an asset. We can also assist you with the loan approval process.

PERSONAL SERVICE

Our dedicated team is here to help you. You have the flexibility to choose the level of advice you need.

ADDITIONAL BENEFITS

Under our Complete package, you will have direct phone and email access to a dedicated adviser and accountant who
can provide full personalised advice with regular review of your fund.

Also, as part of our Complete package, you will have access to strategic financial advice, investment advice, property
advice, estate planning and mortgage services.

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Qi Super services
KEY FEATURES

We offer a comprehensive and specialised service from the establishment of your fund to ongoing administration and
compliance for your SMSF.

Feature Details

SMSF Establishment We do all the necessary ground work to help you establish your fund:

• Establish a company to act as corporate trustee (optional)

• Process member application forms
• Register the fund with the ATO and apply for an ABN and TFN
• Appoint trustees and prepare trustee minutes
• Create an investment strategy
• Establish a bank account for your fund
• Assist with rollover of superannuation benefits and contributions
• Open a Desktop Broker (Bell Direct) share trading account
Trust Deed We use an external legal service provider who will:

• Provide a compliant trust deed to establish the SMSF

• Prepare all required fund establishment minutes
• Amend your existing trust deed (if necessary)
Insurance Review We assist with a compulsory review of your insurance needs:

Ongoing SMSF Administration
Annual Audit and Accounting
• Consider appropriate Life, Total & Permanent Disability, Critical Illness and
Income Protection insurance
• Recommend the best way to structure your policies
• Provide quotes for insurance
• Implement any required insurance and manage the application process on
your behalf
We manage all aspects in relation to the ongoing administration of your fund
including maintenance of the corporate registry, member details, investment
strategies, insurance details and fund transactions.
We handle all your taxation, audit accounting requirements:

• Process and reconcile transactions within your SMSF on a monthly basis

• Prepare and lodge the fund’s tax return
• Prepare accounting requirements such as GST, BAS and IAS (if applicable)
• Calculate tax liabilities for the fund
• Provide all supporting documents and reports to the auditor
Online access Your Qi Super online SMSF login allows you to view and monitor all details of your
fund, bank transactions, asset allocations, investment returns, member balances,
contributions caps, insurance and much more.

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Getting started
SETTING UP AN SMSF

Once you are ready to set up your SMSF, we provide you with all the necessary documents and guide you through the
entire process.

1. Name your fund and trustee company

E.g. Smith Super Pty Ltd ATF (as trustee for) The Smith Family Superannuation Fund

2. Establish your SMSF trust deed

Establish your SMSF trust deed and register your fund with the ATO. All necessary documentumentation will be provided for you to sign.

3. Consider Insurance
As trustees of an SMSF it is a regulatory requirement that you consider an insurance strategy and then review this consideration regularly.

4. Rollover your super

We will assist you with transferring your existing super into your SMSF.

5. Qi Super Induction
We will conduct an induction to run you through how to monitor and manage your SMSF online.

6. Invest and manage your SMSF

We will prepare an investment strategy for you and assist with the implementation of investments (Complete Package only).

7. Ongoing Administration
Conduct a regular review of your investment strategy, annual audit, processing and compliance checks of your SMSF.

TRANSFFERRING YOUR EXISTING SMSF

If your fund is already established, we can help you bring the financials and accounts up to date, prepare any trust deed
amendments, open a bank account (if required) or even amend the structure of your fund.

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Fees and costs
Please note, all fees and costs listed are inclusive of GST.

Establishing a new SMSF $

Establishment of fund 500

Establishment of corporate trustee company 990
Preparation of trust deed 460

Transferring your existing SMSF $

Update or amendment of your SMSF trust deed (optional) 460

Preparation of prior years’ accounts (if required) 2,500
for each
oustanding year*
Depending on the complexity of your fund.
*

ONGOING SMSF ADMINISTRATION

The fees you pay reflect the level of service in the package that you choose for the management of your Self Managed
Superannuation Fund.

Fees are charged at a fixed monthly rate (including GST).

Complete Package Essentials Package

The complete package offers full flexibility and no
restrictions on what you can invest in. You will also have
direct phone and email access to a dedicated adviser
and accountant who can provide full personalised advice
including the regular review of your fund.
The essentials package is right for you if you wish to
handle the investment and strategy of the fund yourself.
You are not restricted by what you can invest in, however
we cannot provide any personalised strategic advice and
you are responsible for all required compliance.

With our Complete Package, you also have access to

strategic financial advice, investment advice, property Essentials Package $
advice, estate planning and mortgage services. Administration 295 per month

The monthly rate applicable to you will depend on the Additional assets not Nil
total net balance of your fund. recommended by Qi Wealth
Property held in fund 50 per month
Complete Package $

Ongoing Administration 395 per month Head Start Package

Additional assets not Nil We offer the head start package for those with smaller
recommended by Qi Wealth balances. It provides a limited investment menu however
Asset Management Fee Up to 1.1% per with our expertise and advice; we will help you grow your
annum balance.

Property held in fund 50 per month Once your balance reaches $200,001, you will
automatically be upgraded to the Complete Package.

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 All other costs
Head Start Package $

Fund balance: Other costs $

Up to $100,000 125 per month
Up to $200,000 165 per month ATO Levy As advised by the ATO

Additional assets not Not available ASIC 48 per annum

recommended by Qi Wealth Audit Fee 40 per annum
Asset Management Fee Up to 1.1% Actuarial certificate 200 per annum
per annum (if required)
Property held in fund Not available Trust deed updates 220 per update
Desktop Broker share 39.95 or
trading brokerage (if 0.5% per trade
Residential Property Purchase applicable) (whichever is greater)
Contributions Tax 15% of assessable
Property Purchase in SMSF $
contributions
Establishment of corporate 1,200 per annum
property trustee company Division 293 Tax (applicable 15% of assessable
and preparation of for individuals with income contribtuions above
stamping requirements for greater than $250,000 p.a.) $250,000 per annum
commercial loans threshold
Preparation of property 990 Wind up or transfer fees* The balance
trust deed (paid to Gadens of 12 months’
Lawyers) Administration Fees
If you wind up or transfer
Loan documentation fee 880 your SMSF within 12
months of establishing
Bank establishment fee 1,500
your fund with Qi Wealth,
(approximate fee charged by
you will be required to pay
Financier)
the balance of the first 12
Stamping of property trust 500 months of administration
deed (paid to Office of State fees.
Revenue)
Establishment of corporate 2,200 If you wind up your
property trustee company fund after 12 months
and property trust deed for establishment, you will be
related party loans required to pay a wind up
fee equal to 3 months of
Government charges such as mortgage stamp duty and solicitor legal your monthly administration
fees may apply.
fees, provided you have
already paid the balance
of the first 12 months of
administration fees.
*
The wind up fees are payable as stated above provided you have
already paid the fund establishment fee and your monthly fees from
the month after your fund is established. If this is not the case, you
will be invoiced the cost of the wind up fees plus any outstanding
fees.

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Explanation of fees and costs
We have outlined below an explanation of the fees and costs involved in setting up and managing your Self Managed
Superannuation Fund (SMSF). Any applicable fees will be deducted from your SMSF cash account in accordance with the
Direct Debit request entered into when you establish your fund with Qi Wealth.
ESTABLISHMENT FEE
The establishment fee covers the cost of setting up your
SMSF and is deducted from your SMSF bank account.
ONGOING ADMINISTRATION FEE
This fee covers the ongoing administration and
processing of accounts for your SMSF and is deducted
from your SMSF bank account on the 1st day of every
month in arrears commencing from the date the fund is
established. This is also deductible to your fund.
AUDIT
Your fund is required to undertake an audit each year.
We provide the services of an independent external
auditor.
PROPERTY PURCHASE AND LIMITED
RECOURSE BORROWING ARRANGEMENTS
(LRBA)
The costs involved in purchasing a property and
establishing a Limited Recourse Borrowing Arrangement
(LRBA) for your fund are outlined on page 8. These are
the fees charged by the external legal provider and
financier for a standard borrowing arrangement. All legal
and financier fees are paid directly to these providers
and are not fees of Qi Wealth.
CHANGES TO FEES
Qi Wealth reserves the right to increase the
administration fees in line with the costs experienced
by us in providing the SMSF administration service.
Increases in previous years have generally been in
line with standard inflation measures such as CPI and
AWOTE. If we decide to increase any of the fees set out
on pages 7 and 8, or introduce new fees, we will provide
you with at least 30 days’ notice of the change.
ALL OTHER COSTS
ATO Levy and ASIC
The Supervisory Levy is a fee charged by the ATO on each
SMSF. When your SMSF is assessed for tax, this levy is
added to the total payable to the ATO.
Actuarial certificates
If your fund requires an actuarial certificate, we will
deduct this fee from your SMSF bank account.
Trust deed updates
If your fund requires an update to the trust deed, we will
deduct this fee from your SMSF bank account.
Share Trading
Brokerage is charged per trade when you buy or sell
shares or ETF’s on your Desktop Broker share trading
account. Brokerage is deducted from the final value of
your trade.
Contributions tax
The income of your SMSF is generally taxed at a
concessional rate of 15%. The most common types of
assessable income for complying SMSFs are assessable
contributions, net capital gains, interest, dividends and
rent. Contributions tax is assessed each year and is
payable to the ATO from your SMSF.
Division 293 tax
Division 293 is an additional 15% tax imposed
on relevant concessionally taxed superannuation
contributions (referred to as low tax contributions) made
to superannuation funds by individuals whose income
exceeds $300,000. The taxable contributions will be the
lesser of the low tax contributions and the amount above
the $300,000. Division 293 tax is assessed each year
and is payable to the ATO from your SMSF.
Additional fees
Additional fees may apply for more complex funds
however we will always discuss these with you in
advance.
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Important information
It is important you consider the potential advantages and disadvantages before establishing an SMSF.

THE ADVANTAGES AND DISADVANTAGES OF SMSFS

Advantages Disadvantages

• Control - As members of an SMSF you have • Responsibility of Trustees - All decisions and
complete control over your fund’s investments, responsibilities associated with managing the
however, you must develop and maintain an fund rest with you as trustee. In addition, all
appropriate investment objective and strategy superannuation funds have to comply with certain
and operate within the Superannuation Industry rules, legislation and deadlines. As trustee, you’re
(Supervision) Act 1993 at all times. responsible for making sure the fund meets all
legislative requirements on time hence members
• Flexibility - Control of your fund means you have
must ensure the fund remains compliant at all
the option and flexibility to invest in a range of
times. Trustees can be penalised for breaches of
assets including bank deposits, direct property,
the legislation.
shares, managed funds and pooled investment
trusts. You’re also able to switch or modify those • Limited Ability to Diversify Investments - Although
investments as desired you are generally able to invest in a greater range
of assets, you may not have sufficient money in
• Control Over Design and Operation - As members
the fund to diversify across them all. You also need
are the trustees of the fund, you have a degree
to monitor the investment performance of the
of control over the rules of the fund and how your
fund. You could simplify these tasks by investing in
fund operates. For example, your fund can run
managed/pooled investments.
both accumulation and pension phases (providing
preservation rules have been met). Specific • Costs of Maintaining your Self-Managed
rules about the payment of benefits can also be Superannuation Fund - Depending on the types of
introduced, for example, restricting when a child investments in the fund, the balance of your fund
can commute a pension. or the administration and consulting assistance
you receive, it may be expensive to maintain the
• Estate Planning - Your fund can provide benefits
fund relative to other retail fund offerings.
to you, your spouse and even your children. This
means that the fund can continue after your death • No Access to Superannuation Complaints Tribunal
which can allow for many estate planning benefits. - As a member of an SMSF you do not have the
ability to take complaints or disputes to the
• Cost Savings as your Balance Grows - Generally,
Superannuation Complaints Tribunal. You must
SMSFs are administered with fixed costs. So
therefore have any matters heard by the judicial
the greater the account balance, the more cost
system which may incur significant costs and result
effective the SMSF is. Also, SMSFs do not have the
in delays.
same prudential regulation and do not have to be
licensed.
• Tax Concessions - The fund can provide tax
concessions such as the deferral of lump sum tax
in the pension phase. There are also opportunities
to use credits from franked dividends to reduce the
15% tax rate.
• Advantages for Small Business - Typically many
small business owners are able to utilise super
rules which permit SMSFs to invest in business real
property either directly or through non geared unit
trusts or warrant trusts and lease back the property
to a related party.

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Qi Contacts
SETTING UP YOUR SMSF

If you have any queries in relation to establishment of your Self Managed Superannuation Fund, please contact us.

Office Address

Qi Wealth
Level 7, 32 Martin Place
Sydney NSW 2000

Mailing Address

Qi Wealth
GPO Box 4556
Sydney NSW 2000

Office Phone

+61 2 8247 2700

Email

admin@qiwealth.com.au

Website

www.qiwealth.com.au

YOUR SUPPORT TEAM

If you have any queries in relation to the ongoing management amd administration of your SMSF, your Qi Super team are
here to help:

Jarrad Bleechmore Narissa Stanley

SMSF Specialist SMSF Accountant

+61 2 8247 2700 +61 2 8247 2700
jarrad.bleechmore@qiwealth.com.au narissa.stanley@qiwealth.com.au

Lauren Chan Krystal Day

SMSF Analyst SMSF Team Assistant

+61 2 8247 2700 +61 2 8247 2700
lauren.chan@qiwealth.com.au krystal.day@qiwealth.com.au

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